** Shares of Evolution Mining EVN.AX rise as much as 2.4% to record high of A$8.09; last up 1.9%

** Stock is among the top gainers on benchmark ASX 200 .AXJO, which is up 0.5%

** Gold miner says its top gold producing Cowal operations receive approval to extend functioning to 2042

** Total capital investment approved is A$430 million ($272.62 million) over the next 7 years with FY25 capital guidance for project updated to A$65-A$70 million

** Separately, co reports quarterly total gold production of 179,778 Oz vs. 185,252 Oz last year

** Stock up 67.2% YTD

($1 = 1.5773 Australian dollars)

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((JasmeenAraIslam.Shaikh@thomsonreuters.com))